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India's GVK wins approval for $10 billion Aussie coal mine, rail project

Wed, 08/22/2012 - 8:25pm
Reuters

CANBERRA (Reuters) - India's GVK Power and Infrastructure won environmental approval for its A$10 billion ($10.4 billion) Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment.

The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billiton shelved two major expansion plans worth at least $40 billion.

The Alpha scheme is the front-runner among several projects in the untapped Galilee Basin in Queensland, where rival Indian group Adani Enterprises is planning a A$10.9 billion coal and rail project.

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